MercadoLibre, Inc. (NASDAQ:MELI) Position Trimmed by Perpetual Ltd

Perpetual Ltd lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,202 shares of the company’s stock after selling 9,943 shares during the quarter. MercadoLibre makes up approximately 3.0% of Perpetual Ltd’s holdings, making the stock its 3rd biggest position. Perpetual Ltd owned about 0.30% of MercadoLibre worth $255,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Optimum Investment Advisors lifted its stake in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares during the last quarter. Grove Bank & Trust raised its stake in shares of MercadoLibre by 120.0% in the 4th quarter. Grove Bank & Trust now owns 22 shares of the company’s stock valued at $37,000 after buying an additional 12 shares in the last quarter. Legacy Bridge LLC lifted its stake in MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares during the period. Quarry LP bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $43,000. Finally, NBC Securities Inc. boosted its position in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

MercadoLibre Trading Down 0.1 %

MELI opened at $1,836.00 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average of $1,853.58 and a 200-day moving average of $1,907.54. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The stock has a market cap of $93.09 billion, a PE ratio of 64.78, a price-to-earnings-growth ratio of 0.98 and a beta of 1.60.

Analyst Ratings Changes

Several analysts have recently commented on MELI shares. Morgan Stanley decreased their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Wedbush cut their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. BTIG Research reduced their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.